YAZDI CYNTHIA 4

What Happened

• Cynthia Yazdi (SVP, Chief of Staff to the Chairman & CEO) had equity awards vest/convert on March 9, 2026. She was issued 7,852 shares from performance-based awards (vesting of performance options) and 1,058 shares from the third tranche payout of market stock units (MSUs), for a total of 8,910 shares acquired.
• To satisfy tax withholding obligations upon settlement, the company withheld/disposed a total of ~1,724.27 shares in two withholdings (1,262.98 shares and 461.29 shares), valued at about $789,768 ($578,483 + $211,285). The filing was made on March 11, 2026 (two days after the transactions).

Key Details

• Transaction date: March 9, 2026; Filing date: March 11, 2026 (timely).
• Acquisitions: 7,852 shares (award/vesting) and 1,058 shares (MSU payout) — both reported as derivative conversions/grants at $0 purchase price.
• Withheld/disposed for tax: 1,262.98 shares ($578,483) and 461.29 shares ($211,285); total withheld ≈ 1,724.27 shares ≈ $789,768.
• Additional derivative line: 612 shares noted as vested/converted in the MSU tranche reporting (see footnotes describing vesting vs. payout and above-target shares).
• Shares owned after the transaction: not specified in the provided data (plan statement referenced in footnotes).
• Transaction codes: M = option/MSU conversion, A = grant/award, F = tax withholding.

Context

• These transactions reflect routine vesting/conversion of performance-based awards and MSUs and tax-withholding (not open-market sales). The MSU payout included an above-target payout (173% factor) resulting in more shares than the target; 7,852 performance options also vested based on company performance. Withholdings to cover taxes are common and do not necessarily indicate a change in insider sentiment.